Looking to break into homeownership without stretching your budget? This bright, well-maintained 3-bedroom, 1-bath condo offers an incredible opportunity to own your first home in the peaceful community of Arthur. Whether you're a first-time buyer, downsizing, or simply looking for an affordable place to call your own, this home checks all the right boxes. Step inside to a functional layout with comfortable living spaces, then unwind on your own private balcony surrounded by mature, leafy trees. It's the perfect place to enjoy your morning coffee, read a book, or simply take in the quiet surroundings after a long day. One of the best features? The monthly condo fees include heat, hydro, and water, helping make your monthly expenses more predictable and budget-friendly. That's one less thing to worry about as a homeowner. Located in a quiet neighbourhood, you'll enjoy the charm of small-town living while staying within easy commuting distance-just 40 minutes to Guelph and 30 minutes to Orangeville. Homeownership doesn't have to feel out of reach. Sometimes the perfect first home isn't the biggest or the fanciest-it's the one that fits your lifestyle, your goals, and your budget. If you've been waiting for the right opportunity to stop renting and start building equity, this could be the one. Let's book your private showing and see if it feels like home.
3 bedrooms, 1 bathroom, about 1,000 sq ft, works out to roughly $299 per square foot. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
Inside 118 Preston St S #331
Every detail from the listing, in one place.
Type
Condo
Style
Multi-Level
Living space
1000-1199 sq ftas stated on the listing
Parking
1 space
Basement
None
Features & systems
Parking & garage
Parking spaces
1
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Multi-Level
Property class
Condo Apartment
118 Preston St S #331 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$1,469
/mo
based on the purchase price of $299,000
$59,800 cash
$239,200 financed
$201,469 total interest
Principal54%$239,200
Interest46%$201,469
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
Want rate-drop alerts and a saved shortlist?
Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
For homeowners nearby
Own a home on Preston Street South? See what yours is worth
Get an instant estimate for your own home, based on recent sales around you. A free account shows the number and emails you the full report.
Free · No obligation · Backed by Coldwell Banker
Book a tour of 118 Preston St S #331 with a licensed buyer's agent
Your agent is usually paid from the seller's side. We'll confirm the co-operating commission on this listing before you sign anything.
Zara, any time
Zara · AI virtual agent
Ask about 118 Preston St S #331 day or night. Zara reads this listing and answers in plain words. When you want a person, she hands you to a licensed agent.
A licensed local agent
Your agent shows you the home, checks the paperwork and negotiates your offer, on your side, not the seller's.
Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Wellington North
Other 2-bed homes for sale in Wellington North around $299K.
Average days on market86Homes sold in about 86 days on average.
Sale-to-list ratio96.2%On average, homes sold below asking.
Active listings98Homes for sale here right now.
Median vs prior 90 days+6.5%Compared with May 19 – Aug 17, 2026: prices up.
Based on 78 sales from Aug 17 – Nov 15, 2026 (65 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 118 Preston St S #331
How much is 118 Preston St S #331 listed for?
118 Preston St S #331 is listed at $299,000 (MLS® X13537684). Summitly updates the price as soon as the MLS® record changes.
Is $299,000 a good price for 118 Preston St S #331?
Summitly rates it Excellent Deal: the asking price is 10% or more below Zara's estimate, an estimate built from recent sales in Wellington North. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 118 Preston St S #331 changed?
Yes — it was first listed at $349,000 and is now $299,000, a drop of $50,000 (14.3%).
How many bedrooms and bathrooms does 118 Preston St S #331 have?
118 Preston St S #331 has 3 bedrooms and 1 bathroom, with about 1,000–1,199 square feet of living space. It is a condo in Wellington North.
How much would the monthly mortgage be on 118 Preston St S #331?
About $1,469 a month — principal and interest on $299,000 with 20% down ($59,800), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 118 Preston St S #331 compare with other homes in Wellington North?
Its asking price of $299,000 is about 44% below the median sold price in Wellington North over the last 90 days, $532,500, across 78 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 118 Preston St S #331 been sold before?
Summitly has no earlier MLS® sale or lease of 118 Preston St S #331 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 118 Preston St S #331?
118 Preston St S #331 is in Wellington North, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 118 Preston St S #331 been on the market?
130 days — 118 Preston St S #331 was listed on July 8, 2026.
What is the price per square foot of 118 Preston St S #331?
About $249 to $299 per square foot: the asking price of $299,000 over the 1,000–1,199 sq ft the listing gives as its size range.
Does 118 Preston St S #331 have parking or a garage?
Yes — the listing gives 1 parking space.
Does 118 Preston St S #331 have a basement, and is it finished?
The listing says 118 Preston St S #331 has no basement.
